Need advice on career change/advancement: Commercial insurance broker to Banking/Consulting/Other roles

Hi All, first time posting on WSO.

I currently work for PE and M&A division of a global commercial insurance brokerage firm in South Korea. Working on reps & warranties insurance broking and other services such insurance DD and other general insurance broking for PE's portfolio companies. Unlike the majority of the colleagues who work for this division, I don't have an extensive financial or legal background. Which puts me at a disadvantage for promotions and comps. I just turned 28, and I've working for this company slight over 2 years now. I want to try my chances at getting into Banking/Consulting/ or other more lucrative careers.

To change careers, I'm currently preparing for the GMAT If anyone here made career transitions, specifically from commercial insurance broker --> banking/consulting/other roles please share your thoughts with me.

What I would like to get some advice on:

  1. Which MBA programs to target
  2. If I want my current experience to be relevant, what career paths are out there other than my current role?
  3. If I get in, is it worth going to the MBA and quit my current job and to risk it for a uncertain career change?

  4. what would be the realistic best case scenario, assuming I've an MBA from a top 20-25 school considering my background

  5. Any other career advice considering my circumstances

Overview of my current background

School (US)= Non-target public GPA 3.0 Major = Mathematics Work Experience = Global insurance brokerage firm 1st year - structuring insurance programs for Multinational corporates, Korean conglomerates 2nd year - Private Equity and M&A

1 Comments
 

Eos et vitae adipisci quas dicta repudiandae et. Ut ex laudantium explicabo ullam. Fugit corporis assumenda ea ipsam.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

November 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

November 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (29) $183
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
CompBanker's picture
CompBanker
98.9
8
Betsy Massar's picture
Betsy Massar
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”